- Conventional long form
- Kingdom of Spain
- Conventional short form
- Spain
- Local long form
- Reino de Espana
- Local short form
- Espana
- Name
- Madrid
- Geographic coordinates
- 40 24 N, 3 41 W
- Time difference
- UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
- Daylight saving time
- +1hr, begins last Sunday in March; ends last Sunday in October
- Inflation
- -0.203%
- Total tax rate (% of commercial profits)
- 49.0%
- Real Interest Rate
- 3.88%
- Manufacturing, value added (% of GDP)
- 14.141%
- Current Account Balance
- US$ 24,076,499,746
- Labor Force, Total
- 23,032,705
- Employment in Agriculture
- 4.22%
- Employment in Industry
- 19.61%
- Employment in Services
- 76.17%
- Unemployment Rate
- 19.45%
- Imports of goods and services
- US$ 371,565,207,606
- Exports of goods and services
- US$ 407,420,009,038
- Total Merchandise Trade
- 48.43%
- FDI, net inflows
- US$ 31,072,022,164
- Commercial Service Exports
- US$ 127,123,298,610
- Commodities
- machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods
- Partners
- France 15.7%, Germany 11%, Italy 7.4%, UK 7.4%, Portugal 7.1%, US 4.5% (2015)
- Commodities
- machinery and equipment, fuels, chemicals, semi-finished goods, foodstuffs, consumer goods, measuring and medical control instruments
- Partners
- Germany 14.4%, France 11.7%, China 7.1%, Italy 6.5%, Netherlands 5%, UK 4.9% (2015)
- Country Risk Rating
- A2
- The political and economic situation is good. A basically stable and efficient business environment nonetheless leaves room for improvement. Corporate default probability is low on average.
- Business Climate Rating
- A1
- The business environment is very good. Corporate financial information is available and reliable. Debt collection is efficient. Institutional quality is very good. Intercompany transactions run smoothly in environments rated A1.
- Reform efforts (labor market, banking sector, insolvency, etc.)
- Improved competitiveness and strengthened export sectors
- Improved financial situation of businesses
- High-quality infrastructure
- Significant tourism potential
- Still high level of private and public debts, very negative net external position
- Duality of labor market, high level of structural unemployment
- Large number of relatively unproductive small companies
- Unity of the country threatened by separatist movements